What Insurers Need to Know About Next-Gen Cyber Threats
Insurers writing cyber coverage look to their reinsurer for trends, perspective on risk accumulation, and risk management resources.
Insurers and reinsurers are learning to better distinguish what cyber risks are insurable, high-risk but insurable, or uninsurable.
Ransomware developers have begun selling their software to would-be peers, making it more difficult to identify the source by the characteristics of the attacking software.
The decision to pay or reject ransom demands is a complicated mix of identifying the source, evaluating backup plans and remaining compliant.
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.
